Breaking into commodity trading
Really interested into commodities recently. What are some entry level roles to break into the space?
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Hi derivativeCo, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
More suggestions...
I hope those threads give you a bit more insight.
Ops > Risk > Analyst > Pray a seat comes avail and someone takes punt on you > Trading Commodities
Edit: People throwing shit at me, how tf do you think you will break into commodities without first going through Ops/Risk/Trading analyst?
Very specific to power but Intraday/RT trading is often open to entry level traders/grads. The pool of people willing to work night shift, weekends and holidays is small ( ironically IB analysts will end up doing it anyway). But its a good route which I took as did many before me.
What roles/companies should I apply to in EU and America if I'm willing to work weekends and holidays ?
I got shit thrown at me the other day for saying that if you wanted to get a trading seat within the first year of starting then physical commodities aren't for you. Not sure what the deal is lately.
Really depends on companies/products they trade. Also bear in mind that at some companies the "Jr trader title" is often just a better name for "trading assistant" where you spend 75% of your time supporting the trading team on analysis, counterparts management, basic paper/physical trading and logistical work. Seen ppl being promoted to Jr trader within 1-1.5 years, seen ppl being on ops/s&d/etc 4-5 years before getting a shot at a true trading seat.
Don't think the S&T transplants can grasp that getting opportunity to run risk isn't a given
But how about that movie with Charlie Murphy where they switch roles with a legit commodity trader and they teach him how to make profit on buying OJ?
Find a small shop and network your way in. As many can attest, this is a relationship-driven business and typically at shops w/ >35 traders you can get your foot in the door with a phone call. Work your way up to more prestigious shops from there.
Unconventional but it worked for me.
agree 100%
What are some examples of small shops? And would they be interested in all at S&T interns for full time?
Trucking companies and regional fuel supply and distribution companies.
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